The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
March 28, 2024
 Search RENTV
   Go!
 The REview
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



SOUTHERN CALIFORNIA NEWS
Printer-friendly Version   Email an Associate
SoCal Value-Add Multifamily Portfolio Hits the Market

8/24/20

We’ve just learned about a significant SoCal multifamily listing to hit the market. It’s for the LAVVA Portfolio, or “Los Angeles & Ventura Value Add” Portfolio. The listing consists of five properties totaling 551 units in Canoga Park, Camarillo, Glendale and Hollywood.

Canyon Drive Manor, Hollywood
Canyon Drive Manor, Hollywood
The properties have been very well-maintained and upgraded over the years, but there is significant value-add potential, up to 40% in some cases, we’re told. While, we don’t know of an asking price, estimates suggest the portfolio value is around $155 - $160 mil.

The properties are being sold by a West Coast-based family investment entity that acquired four of the assets between 1970 and 1985, and the fifth property in 2009. The seller’s average property ownership tenure is 35 years.

Perigee, Canoga Park
Perigee, Canoga Park
The patriarch of the family entity passed away this year and the heirs decided to sell all the holdings. They are being offered individually or in any combination, up to the entire 551-unit portfolio. The five properties include:

• Mountain View - 106 units in Camarillo, built in 1979
• Canyon Drive Manor - 137 units in Hollywood, built in 1973
• Perigee - 200 units in Canoga Park, built in 1985
• Imperial Manor - 64 units in Canoga Park, built in 1964
• Imperial Crest - 44 units, in Glendale, built in 1962

The listing is being marketed by the veteran CBRE multifamily investment team of Dean Zander, Stewart I. Weston and John Montakab. CBRE’s Brian Eisendrath and Brandon Smith are handling the debt and structured finance aspect of the deal.





Return to the Archive page


 


 


 


 
 





Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media